Decoupling?

Spurred by the US shale revolution and rising Canadian oil production, the US’ reliance on Saudi oil has declined over the past two decades, Javier Blas says in a Bloomberg opinion piece. Blas looks at the shifting dynamics, marked by the closure of Riyadh’s New York oil office last year and a 40-year low in Saudi crude imports in the same year.

MEANWHILE- While Blas claims that this shift fulfills a long-held US ambition of energy independence, he argues that the Kingdom remains a key geopolitical player, capable of impacting global oil prices through production cuts and pricing tactics, ensuring its relevance in the global market.

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